Kippreport explores the technology that’s currently trending at GitexOctober 7, 2015 3:08
UAE debit card holders: Security is key
We all work hard for our money, so we should not forget to protect it
July 30, 2014 10:26 by kippreport
Kippreport wants to know just how important banking security is, so we asked you, our readers, whether you prefer using bank cards that use the swipe or pin method.
Our results find that 58 per cent of respondents prefer using a chip and pin bankcard when making a payment due to security concerns. However, a surprisingly large chunk – 27 per cent – would trade security for speed, citing ‘Swipe, the faster the better!’
A smaller portion of 15 per cent would opt for both using chip and pin facilities on their debit cards, and swipe on their credit cards.
However, regardless of preference, it is important to safeguard your plastic as you would your cash.
Below are a few tips to keep in mind while making a debit card payment:
Use your signature: While many use debit cards on a daily basis, offering up signaturesfor every payment –vendors will have no way to authenticate your signature if it is not present on the back of your card. If your card is stolen, and a signature is required to make a transaction, having signed your name on the back of your card, will serve as a reference to vendors.
Use your receipts: It is second nature to some of us at Kipp to throw away our receipts the moment a transaction is made – big mistake. Hanging on to those seemingly insignificant slips of paper may prove to be quite useful when going through your monthly expenses, and will serve as a reference if there are any suspicious purchases that you have been incorrectly charged for.
Use your eyes: In a safe country such as the UAE, it can be easy to forgo basic security measures, such as keeping your wits about you when making a payment. While entering your pin, someone could be lurking close by waiting to extract sensitive information. By staying vigilant, you will reduce your chances of becoming a victim.